Chapter 4.11


4.11.010    Established – Use of moneys.

4.11.020    Finance director duties.

4.11.030    Limitations on interest in funds.

4.11.010 Established – Use of moneys.

The city shall maintain a special municipal fund, designated health benefit self-insurance fund, into which shall be placed any current or future funds generated by the continuation of the medical, vision and dental plans. Such fund is hereby declared to be perpetual, and moneys remaining therein at the conclusion of each budget year shall carry over into the ensuing year, provided, however, upon determination that the balance of this special fund exceeds the amount necessary to maintain a prudent funding level for current expenditures, reserves and future premium stabilization, and as part of the budgetary process, the city may make withdrawals from this fund for any city purpose.

Such moneys as are available within such fund shall be drawn upon to pay benefit costs as may be necessary by the terms of the applicable contracts, exempt employee policies, and state laws and to pay other costs incurred by the city in conjunction with the administration of the employee health benefit programs, provided, however, in the event an expense should arise for which insufficient sums are available within the health benefit self-insurance fund, such amounts shall be prorated over the departments and operations of the city as are appropriate to reflect an equitable distribution of the obligation. [Ord. 10794 § 1, 1996; Ord. 8942 § 1, 1981].

4.11.020 Finance director duties.

The finance director is directed to maintain the above referenced funds as provided herein, and to invest the same so as to generate such additional moneys as is reasonably prudent which shall remain a part of the fund. [Ord. 10794 § 1, 1996].

4.11.030 Limitations on interest in funds.

It is hereby declared that neither the employees of the city or their representatives shall have any interest whatsoever in the funds provided, or the administration thereof, except with respect to benefits provided by union contract or by grant of the city to exempt employees. [Ord. 10794 § 1, 1996; Ord. 8942 § 5, 1981].